By Ayesha Daya
Sept. 14 (Bloomberg) -- Dubai Group, which manages more than $40 billion on behalf of Dubai's ruler, paid 500 million dirhams ($136 million) for a 20 percent stake in the Saudi Arabian property unit of Al Mazaya Holding Co.
Dubai Group became a founding shareholder of Mazaya Saudi for Commercial Investment Co. after completing the transaction through its unit Dubai Capital Group, the company said today in an e-mailed statement. Mazaya Saudi has a paid up capital of 2.45 billion dirhams.
To contact the reporter on this story: Ayesha Daya in Dubai adaya1@bloomberg.net
Sunday, September 14, 2008
Dubai Group Acquires 20% Stake in Mazaya's Saudi Property Unit
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